MBA in Banking and Finance: The Complete Guide

MBA in Banking and Finance is one of the most popular specialisations that MBA aspirants opt for. This is due to the high demand for finance professionals in various industries and domains such as banking, finance, consulting, accounting, taxation, and asset management. Almost every top banking organisation requires an MBA finance professional who has in-depth knowledge of the industry and who brings innovative solutions to deal with complex accounting issues. 

So, if you were in doubt about whether to pursue a career in banking or finance, learning about the scope of MBA finance will give you a clear picture. In this article, we have jotted down every possible information related to MBA in Banking and Finance to help you make the right decision. Read on! 

What is MBA in Banking and Finance?

An MBA or Master's in Banking and Finance is a postgraduate degree that provides a strong foundation in banking and finance-related operations. It spans over two years wherein students also get to learn how to check accounts, what are the business laws, how to manage wealth and assets, etc.

Here is a list of key facts one should know to more about MBA in Banking and Finance: 

• MBA in Banking and Finance opens career avenues in the corporate sector, banking, real estate business, investment services, etc.
• Students can opt for both online and offline modes of courses.  
• You also need to take the entrance exams such as XAT, MAT, CAT, etc. to get admission in MBA in Banking and Finance
• In India, the average salary of Finance professionals is  3 LPA. It can increase based on your skills, experience, and organisation.  

MBA in Banking and Finance Course Details

Here are some of the basic MBA in banking and finance course details you should know: 

Why MBA in Banking and Finance?

Here are some reasons why one should pursue an MBA in Banking and Finance: 

• The programme can enhance one’s analytical, strategical, financial, and Banking and Finance skills and opens up career avenues not just in the banking industry but also in media, hospitality, retail, education, and so on. 
• MBA in banking and finance scope is quite high since top companies recruit professionals and offer them high salaries.
• Professionals can also become freelancers or start their own business with an MBA in Finance and Banking. 
• An MBA in banking and finance also increases your knowledge via practical and theoretical frameworks of the banking world. 
• It also builds technical skills such as corporate financial evaluation, taxation knowledge, investment management, and insurance management.

Who should do an MBA in Banking and Finance?

While anyone can pursue MBA in Banking and Finance, it is best suited for: 

• Candidates who are interested in the banking and finance field.
• Candidates who have a strong mathematical background and love to solve numerical problems.
• Candidates who have a background in solving accounting issues and understand the basics of the banking industry.
• Candidates who wish to pursue higher studies in finance.
• Candidates who want to increase their employability along with salary in the industry. 

MBA in Banking and Finance Admission Process

The admission process for MBA in Banking and Finance goes as follows: 

• There are two modes of admission applications – online and offline. Students can choose any one of them based on their convenience. 
• To fill the applications, students need to submit documents that include proof of address, 10th mark sheet, 12th mark sheet, bachelor's degree mark sheet, certificates, Voter Id card, or any Government approved ID card. 
• The students should then take the online tests. They can be either the national level entrance exams such as CAT or MAT; or college-based tests such as S.E.A.T. 
• Based on the scores on tests, the students will be called for personal interviews or group discussions. It will evaluate your soft skills, aptitude, grit, and motivation to pursue an MBA degree.
• Finally, based on all the tests and interviews, students will be given admission and the decision is communicated through registered email and postal address.

MBA in Banking and Finance Eligibility Criteria

To be eligible, a student must have the following: 

• Those who have a graduate degree or any other equivalent degree from a recognized university
• Those who have at least 50% aggregate marks or 6 CGPA* during graduation
• Those who are in the final year results can also apply provided that they can later submit the proof of completion of degree within the specified duration
• Those who have appeared in any of the MBA entrance exams such as CAT, MAT, ATMA, XAT, CMAT, GMAT, or state entrance exams 

*The percentage can vary from college to college. It is better to read the specific criteria for the desired college by visiting its official website or downloading the brochure.

MBA in Banking and Finance Entrance Exams

There are various entrance exams on both national and state levels for getting admission in MBA. Some of the best ones are as follows: 

• CAT
• MAT
• ATMA
• CMAT
• NMAT
• XAT
• SNAP
• SEAT

Types of MBA in Banking and Finance Courses

Here are four types of MBA in Banking and Finance Courses you should know about: 

The eligibility criteria and the duration may vary based on the college you are applying to. Always read the brochure carefully to learn about them. 

MBA in Banking and Finance Syllabus

Some subjects of MBA in Banking and Finance remain the same as other MBA courses but there are special subjects as well that make an MBA in Banking and Finance specialised.

The course is divided into 5 trimesters across a period of two years. The first three trimesters are planned to form a strong foundation in business administration and are common in all other MBA programmes offered by the university. The main difference comes in the 4^th and 5^th trimesters. Here is a list of all trimesters and the subjects you will get to study: 

Trimester 1

• Business Communication For Managers
• Technology In Management
• Banking and Finance Management
• Organisational Behaviour I
• Managerial Economics
• Business Accounting I
• Business Mathematics

Trimester 2

• Managerial Communication
• Analytical Tools For Managers I
• Brand Management
• Organisation Behaviour II
• Corporate Finance
• Business Accounting II
• Market Research
• Business Statistics

Trimester 3

• Professional Communication
• Analytical Tools For Managers II
• Sales Management
• Human Resource Management
• Change Management
• Working Capital Management
• Business Problem Solving
• Operations Management
• Summer Internship Project

Trimester 4

• Introduction To Retail Banking
• Financial Planning & Wealth Management
• Business Law

Trimester 5

• BFSI Products
• CASA/A&L
• Excel

Required Skills for MBA in Banking and Finance

There are some skills that can help you in completing your MBA in Finance and Banking with better learning and understanding. Moreover, they can also help in scoring high in the entrance exams and passing the interview rounds to secure a seat in the best MBA colleges. These skills include: 

• Mathematical Aptitude: People who wish to pursue a professional career in Finance and Banking should have a strong mathematical aptitude. This is one of those skills that can help you pass the entrance exam and also secure the dream job later. So make sure you have a strong background in maths along with numeral reasoning. 
• Analytical Skills: These refer to a person’s ability to collect data, analyse them, and finally make the right decisions. You need to know how to think critically, that too in real-time. Such skills are important to pass the interview and group discussion rounds. 
• Communication Skills: Communication skills will help you express your ideas and also make others understand your points. It is often calculated via your listening skills, body language, vocabulary, and confidence.  
• Time Management: Whether you have to complete your group projects timely or complete a business deal on deadline, time management skills will aid you in every step of your career. 
• Tech Skills: If you wish to make a successful career in Banking and Finance, it is important to learn basic tech skills. You should also learn how to use excels, how to send emails, or how to make presentations. These will give you an extra edge over other students and candidates. 
• Teamwork: During your MBA and also in your job, you will be required to collaborate with other people on various projects, deals, and assignments. Knowing how to work in a team will help you work effortlessly in such situations. 

Other than these, you can also work on your strategic skills, speaking skills, leadership skills, and interpersonal skills before joining the course. 

Top Colleges for MBA in Banking and Finance

The Sunstone edge is offered for MBA in Banking & Finance with some of the best MBA colleges and universities across  India. These include: 

• NIU, Greater Noida
• NIET, Greater Noida
• IBMR, Hubli
• PISM, Bangalore
• RAYAT-BAHRA, Mohali
• JECRC University, Jaipur
• RR Institutions, Bangalore
• Sage University, Indore
• GD Goenka, Gurugram
• Aditya Institute Of Management, Pune
• Netaji Subhas University, Jamshedpur

Jobs after MBA in Banking and Finance

Once you have completed MBA in banking and finance, you can apply for the following jobs: 

• Investment Banker
• Accounts Manager
• Investment Manager
• Corporate Analyst
• Banking and Finance Manager
• Banking and Finance Analyst
• Business Analyst
• Finance Manager
• Executive Assistant
• Insurance Manager
• Cashier
• Equity Research Analyst

MBA in Banking and Finance Salary in India

Top Recruiters for MBA in Banking and Finance

Every corporation – be it a small one or an MNC – requires banking and finance professionals. If you complete an MBA in Banking and Finance, you can get hired by the following top recruiters:

• Paytm
• Axis Bank
• Future Group
• Cognizant
• ICICI Bank
• Accenture
• KPMG
• TCS
• MITR
• Reliance
• Genpact
• Creditas
• Joules to Watts